Livio Radio, a Ferndale, Mich.-based manufacturer and developer of car Internet radio products and services, has received a financing of undisclosed amount from venture debt firm Western Technology Investment (WTI).
The company intends to use the proceeds from the financing to continue to develop its products, including the Livio Car Internet Radio app for iPhone and Android, The Bluetooth Internet Radio Car Kit and Livio Connect API. It also plans to hire engineers and marketing professionals.
Founded in 2008 by CEO Jake Sigal, Livio Radio has already developed Internet radio products through ongoing relationships with Pandora, Grooveshark and NPR.
The company is venture backed by Beringea.